Polymetal International PLC - Jersey-registered precious metals miner in Russia and Khazakhstan - Hires Riccardo Orcel as independent non-executive chair, starting immediately. Orcel was managing director & vice chair and head of Global Banking at VTB Capital, a Russian investment bank. Prior to VTB, Orcel worked at Bank of America Merrill Lynch. Orcel's hire follows the resignation of six directors, including chair Ian Cockerill, following the imposition of Western sanctions against Russia. Polymetal previously had replaced four of the non-executive directors. Its board now consists of eight members, including six who are independent. Polymetal, a former FTSE 100 constituent, was removed from all FTSE Russell indices on Monday, due to insufficient trading liquidity.
Current stock price: 126.00 pence, up 0.8% on Tuesday
12-month change: down 91%
By Tom Waite; thomaslwaite@alliancenews.com
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